The important decision to buy a home should always be carefully considered regardless of the time of year. However, fall is a unique period of time when purchasing a home can be fun, rewarding and profitable. One buying tip that would apply anytime of the year as well as during the fall season is to always ensure that you have a good credit score. Simply stated, the better the credit score the more a borrower will qualify for in terms of a home loan.

Being Able To Borrow Money

As an added bonus, a good credit score will help a borrower to secure the lowest possible mortgage rates. There is an inverse relationship between credit score and the number of available mortgages that a homebuyer will have access to at any given time. In other words, the lower your credit score the less options you have in terms of being able to borrow money to buy. In addition, if you are planning to purchase a home this fall, be prepared to have money in savings for a down payment.

The Best Time To Buy

While there are some people who may indeed qualify for a zero down payment, in most cases purchasing a home requires some amount of money in savings. Even something as simple as having available funds for earnest money when making an offer must be considered. If you have worked hard all summer and saved an appreciable amount of money, the fall may indeed be the best time to buy. As an added note, making a larger down payment can lower your monthly payments or in contrast you may choose to buy down your interest rate. Have available funds when preparing to make a home purchase.

Pay A Mortgage Over The Long Term

Along with having a good credit score and having money in the bank, it is also important to have some level of steady work history. Lenders typically look to ensure that a borrower has the means and capabilities to pay a mortgage over the long term. A buyer should be able to show that they have had stable and reliable income and earnings for at least two years prior to making a purchase. Finally, those in search of a great deal on homes in Anacortes should seek out a neighborhood where prices have remained stable or appreciated. Contact Nicole Haun with Realestateinanacortes.com today to learn more about buying real estate in Anacortes Washington. Nicole is a proven leader and an advocate for both buyers and sellers in this thriving part of the country.